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Publicis Groupe's Kekst & Co. is handling the Chapter XI filing of packaging giant Smurfit-Stone Container Corp., which registered for bankruptcy in the U.S. and Canada on Jan. 26.

The Wall Street Journal noted Smurfit-Stone's business is closely tied to consumer spending as its products range from television to pizza boxes.

Patrick Moore, CEO of the Chicago-based company, said his business hit the skids in October as customers moved to "preserve precious cash." He believes "burdensome debt levels" has hindered S-SCC from benefiting from its "three-year transformation program."

The company has secured financing of $750M to enable it to continue operations under Chapter 11.

S-SCC earned $6M during the first nine-months of 2008 compared to a $156M year earlier loss.

Kekst partners Michael Freitag and Andrea Calise are working the reorg.

O'Dwyer Co., Inc.

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